Nowadays, along with the rapid development of science and technology, people’s living standards as well as demands for goods and services are increasing day by day. Establishing a company to seize the opportunity is something many people want to do. One of the most important factors when starting up a company is the source of capital and the fees incurred during the establishment process. So, how much does it cost to set up a company today? LSX legal firm provides this article to answer the question: “How much money does it take to establish a company in Vietnam?”
Legal ground
- Law on Enterprise 2020
- Decree 47/2021/ND-CP
Establish a company
To carry out production and business activities, establishing a company is the first important step. The purpose of establishing a company is so that the work in the company is carried out more scientifically and professionally. The company will include different functions and departments. Accordingly, it is easier to follow every detail and performance of the business; the potential of the company is also greater when there is a clear system.
When you become the owner of a company, you have the right to decide and manage every operation of the company. Once your business is organized systematically, its development will be much more convenient than just a few people performing all the functions. Moreover, when establishing a company, your brand will be protected by law.
Starting a company can be considered a dream of many people. But first, you need to get yourself the first factor: money to carry out the procedures for setting up a company, purchase necessary tools and pay wages to employees. So, how much money do you need to start a company?
Fees to establish a company
Company registration fee
Circular No. 47/2019/TT-BTC stipulates the rate of collection, mode of collection, payment, management, and use of fees for providing enterprise information. Accordingly, the business registration fee includes issue; re-issue; change contents of Certificate of Business Registration and Operation Registration of branches, representative offices; and business locations. The fee is 50,000 VND/each time, payable at the Business Registration Office of the Department of Planning and Investment where the enterprise’s head office is located.
Publication of registration fee
Also based on Circular No. 47/2019/TT-BTC. The fee for publishing the contents of business registration is 100,000 VND/time. Companies pay this fee at the Business Registration Office of the Department of Planning and Investment where the company’s head office is located.
Seal engraving fee
This cost usually depends on many factors of the seal maker and the requests of the company.
Currently, the price for the company’s seal ranges from 250,000 VND to 350,000 VND. In addition, there will be seals for titles in the company.
Bank account opening and notification fee
Businesses have to pay to maintain the account (deposit cost). The average level for an account is about 1,000,000 VND.
Licensing fee
For license fees, when establishing a company there will be 2 cases.
- If the company has a charter capital of less than 10 billion VND, the fee will be 2 million VND per year.
- On the other hand, companies with charter capital over 10 billion, the license fee is 4 million per year
The above are the main expenses for setting up a company. Besides, business owners will also encounter other fees and charges which depend on the needs of the company owner and the nature of the industry.
LSX legal firm’s service on company establishment
When establishing a company, people must carry out the procedure following the law at the competent business registration authority (under the Law on Enterprise 2020). The process of establishing a business includes many different steps and phases. If you are not familiar with the law, this process may take a lot of time.
With a team of experienced, reputable, and professional consultants; The firm is always ready to support and work with clients to solve legal difficulties.
Using our service, you do not need to do the paperwork yourself. We guarantee to help you prepare documents effectively and legally.
Also, you will not have to waste time preparing the application; submitting application, or receiving results. At those stages, we will help you do it smoothly.
After all, LSX provides the service with the desire that customers can experience it the best way. Additionally, we guarantee the cost to be the most suitable and economical for customers.
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Related questions
Application fee: 100,000 VND; company information publication fee: 300,000 VND; digital signature purchase fee (1-year package): 1,530,000 VND; company seal engraving fee: 450,000 VND; purchasing electronic invoices and issuing invoices: VND 850,000;…
The List of members/partners of a limited liability company/partnership; the list of founding shareholders and foreign shareholders of a joint stock company shall contain:
Firstly, full names, signatures, nationalities, mailing addresses of members/partners/founding shareholders/foreign shareholders that are individuals;
Secondly, names, EID numbers, addresses of headquarters of members/partners/founding shareholders/foreign shareholders that are organizations;
Thirdly, full names, signatures, nationalities, mailing addresses or legal representatives or authorized representatives of members/partners/founding shareholders/foreign shareholders that are organizations;
Fourthly, stakes and values thereof, holdings, types, quantities and values of assets contributed as capital, capital contribution time of each member/partner (for limited liability companies and partnerships); types and quantities of shares, holdings, types, quantities and values of assets contributed as capital, capital contribution period of each founding shareholder and foreign shareholder (for joint stock companies).
Contact LSX
Finally, hope this article is useful for you to answer the question about “How much money does it take to establish a company in Vietnam?”. If you need any further information, please contact LSX Law firm: +84846175333 or Email: [email protected]
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